IRS Guidance Clarifies that Housing for Veterans and Special Populations is Eligible for Bond Financing

On April 3, the Internal Revenue Service (IRS) issued guidance clarifying that housing for military veterans and households with special needs are eligible for bond financing. Rev. Proc. 2019-17 coordinates the general public use requirements for qualified residential rental projects financed with tax-exempt bonds with IRS provisions that govern the Low-Income Housing Tax Credit (Housing Credit). This eliminates prior concern that housing for veterans and other specified groups financed with multifamily Housing Bonds and the 4 percent Housing Credit would be in violation of the multifamily bond general public use rule. Learn more about the guidance in this blog post.

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